Are there magic times to buy? Is there a magic formula?

March 29, 2015

Loads of prospective buyers will ask this question – but the truth is that there is no real answer. For many, it depends on your answer to a number of different questions. Can you afford to buy right now? Do you need to buy right now? Are you buying for yourself, or is this an investment?

We can look at a scenario where you are buying a home (or an apartment) for yourself as your primary residence. This means you plan to live there. We can assume one more thing – this is your first time buying a home. First, we love first-time buyers. The option to move people from home to home (including switching and upgrading) is dependent on first-time buyers being able to get their first property.

When buying your first home, you are not sure what you are getting into. This takes courage. You do not know what you are getting into entirely, which is why it is a great idea to have a real estate professional help you with the situation. We can help you traverse the waters and ensure that you do not end up making first-time mistakes

Now for the answer to the question “When do I buy a home?” For first-time buyers, my answer is simple: you can buy at any time. However, I do give these qualifications:

If you feel the need to buy a home

If you can afford to pay the mortgage and the other expenses

If you have some sense of financial security

Remember that no one can predict the future, but it can be easy to critique the past. You would not believe how many times I have heard people say “I should have bought three years ago, I should have bought five years ago.” Even though it might be true that hindsight is 20/20, remember that your current situation is not much different from people a decade ago. You still need to determine whether now would be the right time for you to buy.

For more information you can call me right now: 416-825-7888 or email angela@azgta.com